PenCom, Rivers Govt Encourage Women To Secure Retirement With Pension Savings Bonus

Women in Rivers State have been encouraged to secure their retirement as the National Pension Commission (PenCom), in partnership with the Rivers State Ministry of Women Affairs, unveiled a special savings bonus under the Personal Pension Plan.

The initiative was introduced as part of activities marking the International Women’s Day 2026 celebration and aimed at encouraging women, particularly those in the informal sector, to begin saving for their retirement.

The outreach programme, held in Port Harcourt, brought together women involved in small and medium-scale businesses, market activities and other informal sector engagements.

The event focused on educating them on how to participate in the Personal Pension Plan (PPP) in a simple and flexible manner.

Speaking during the programme, Acting Director of the States Operations Department at PenCom, Akinsola Adeseun, explained that the initiative was designed to provide self-employed women the opportunity to plan for their retirement.

According to him, the Personal Pension Plan is targeted at artisans, traders, farmers, hairdressers and other self-employed individuals who are not covered under the formal contributory pension scheme available to government and corporate workers.

“This programme is an initiative of the National Pension Commission to promote a new product called Personal Pension Plan.

It is meant for workers in the informal sector who are not employed by the federal, state or local governments or big corporate organisations,” he said.

Adeseun noted that statistics indicate that self-employed individuals make up about 90 per cent of the population, many of whom lack financial security after retirement.

Highlighting the savings bonus, he explained that any woman who deposits between N1,000 and N20,000 would receive an equal amount as a bonus from the commission. However, deposits above N20,000 would attract a maximum bonus of N20,000.

“If someone contributes N1,000, we match it with N1,000; if you contribute N5,000, we match it with N5,000; if you contribute N10,000, we match it with N10,000; and if you contribute N20,000, we match it with N20,000.

But if you contribute above N20,000, the maximum bonus remains N20,000 so that the programme can go round the six geopolitical zones,” he explained.

He disclosed that the programme ran from March 9 to March 13, 2026.

Adeseun further stated that the pension plan has two components, including a contingency arrangement that allows contributors to access up to 50 per cent of their savings during emergencies, while the remaining funds remain secured for retirement.

In her remarks, the Permanent Secretary of the Rivers State Ministry of Women Affairs, Ihuoma Boms, commended PenCom for initiating the programme and expressed optimism that it would improve the welfare of women.

She noted that market women and members of various women organisations were brought together to interact with PenCom officials and learn how to register and plan their savings for financial stability in the future.

Also speaking, one of the participants, fruit seller Grace Amadi, expressed appreciation for the initiative and encouraged more women to take advantage of the opportunity. “My friend told me about the programme today. It is a good thing for us to save. I will register before the end of the day because the initiative will help women secure their future finances,” she said.